Signature(s)
Summary sheet
- Credit lines - Credit lines
The facility consists of a loan to Inecobank to support micro, small and medium sized enterprises (MSMEs) and Midcaps in Armenia.
The aim is to enhance access to finance to the target beneficiaries implementing eligible projects in the country.
The operation aims to finance eligible small and medium sized investments undertaken by MSMEs and Mid-Caps in Armenia, thereby contributing to economic resilience, employment generating activities and alleviating the economic burden of the recent displacement crisis in the country. MSMEs make up the vast majority of firms in Armenia and, as such, play a vital role in creating and safeguarding employment. Lack of access to long-term finance has been identified as one of the most significant obstacles to the expansion of MSMEs, and the proposed Facility is expected to address these problems.
Inecobank should take all requisite measures to ensure that the procedures carried out by the final beneficiaries comply with the national legislation, the EIB's Environmental and Social Standards as well as the international treaties and conventions signed and ratified by or otherwise applicable and binding in Armenia.
Inecobank should take all requisite measures to ensure that all the procurement procedures carried out by the final beneficiaries comply with the national legislation, in line with the EIB's Guide to Procurement.
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).
General enquiries and comments
The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.
Media enquiries
Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.
Complaints mechanism
Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.
Zero tolerance against fraud and corruption
The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.
Related publications